Governor Uzodimma Challenges Authenticity of Major Oil Companies as Investors in Nigeria

 Governor Uzodimma Challenges Authenticity of Major Oil Companies as Investors in Nigeria

Imo State Governor, Hope Uzodimma, has raised questions about the legitimacy of major players in the Nigerian oil sector, including Shell, Mobil, Chevron, and TotalEnergies, asserting that they are not genuine investors. During an appearance on Channels Television’s Sunday Politics, Governor Uzodimma alleged the involvement of a cabal attempting to sabotage President Bola Tinubu's economic reform efforts.

Responding to inquiries regarding the departure of investors from Nigeria, Uzodimma contended that those leaving the country were not legitimate investors. He criticized oil giants, particularly Shell, for purportedly disregarding environmental laws in Nigeria and questioned their shift from onshore to offshore operations.

The governor emphasized the environmental degradation in oil-producing areas and accused these companies of benefiting from a cabal system. Uzodimma stated, “The more they leave, the more opportunities the indigenous companies would have to participate. No foreign investor comfortable in their country would want to leave and come here. The earlier the artificial and fake investors leave, the better for Nigeria.”

This comes as Shell recently reached an agreement to sell its Nigerian onshore subsidiary, The Shell Petroleum Development Company of Nigeria Limited, for $2.4 billion to Renaissance, a consortium comprising Nigerian exploration and production companies and an international energy group. The governor's remarks highlight growing concerns about the role and impact of major oil companies in Nigeria's economic landscape.